Workshops

Optimization and Equilibrium in Energy Economics

Overview

Design and decision problems in electrical power systems and markets can be addressed effectively only when tools from several disciplines are brought to bear. At the core of these problems is a physical system – the power grid – whose intricacies, potentialities, and limitations are understood best by power systems engineers. Power markets determine efficient operational levels for the power system, matching generation and demand at each point in time.

Effective market design requires economic expertise, including an appreciation of current market practice and the treatment of uncertainties arising from the increased use of renewable energy sources (such as wind and solar) within the system, as well as an understanding of the physical, engineering, and regulatory constraints of the grid. Successful design and operation of the electrical power grid and the market for electrical power can lead to billions of dollars in savings, but they require expertise in optimization, data analysis, economics and computational mathematics, as well as close interaction with power systems engineers and energy economists. This workshop aims to bring together experts in each of these domains, as well as key researchers who work at the intersection of these disciplines.

This workshop will include a poster session; a request for posters will be sent to registered participants in advance of the workshop.